Wow, the Wall Street banksters strike back
 

I just heard that over the weekend BOA and other too big to fail banks moved 150 trillion in derivatives, they still have out there, from their investment banks to their commercial banks in hundreds of thousands of accounts that meet the max FDIC limit. That means if there is an economic collapse we are on the hook for their lousy paper.

If we do have a collapse in the economy there is no way Uncle Sam can cover the debt. They have 150 trillion in government insured commercial bank accounts. The entire GDP of the US is (drum roll please) is 14.5 trillion. We would be bankrupt in a big way.

Thank you Nixon, Ford, Jimmy Carter, Reagan, Bush I, Bill Clinton, Shrub was too stupid to know what was going on, and Obama for being the good little corporatist that he is, for deregulating the banks to the point we are at now.

Shrub and Obama gave the banksters close to a trillion dollars of our money in a bailout (where is our direct bailout?). The Fed gave the banks an additional 15 trillion in 0% interest loans using our money and they pull this crap. Those sons'a'bitches stole another 1/4 of my retirement accounts this year and charged me to do it. Screw them! I passed up an occupy Fayetteville rally last night, tonight I am going! /rant

And people say that our children will be paying for the deficit.

We're paying for it right now, and if you were thrifty and saved money for retirement, you're getting hammered twice.

You mention Fayetteville...are you an Arkie???

Chas

Yes, I consider myself to be an Arkie and a Razorback fan even though I am originally from Philadelphia. Actually born there and grew up in West Chester, PA. NW Arkansas is one of the best kept secrets for places to live. I think Fayetteville has been in the Forbes top ten best places to live many times.

As far as I'm concerned, Bull Shoals is one of the best kept secrets for a stunning lake.

It can be a tough bite, but it is deserted from the Peel Ferry to the K-Dock area. Even Lead Hill doesn't add much traffic.

The Lake of the Ozarks it ain't. What a shithole.

We used to go down to Eureka Springs on occasion, but that's been 20 years ago.

If I ever left Bugtussell, that would be the area I would move to.

Chas

Well HOT DAMN!!!!! Someone else FINALLY gets it..

Basically what this means.... The banks are scared... and if you see banks doing this, you better hang on to your TuTu

There's a book out there worth reading... The Best Way to Rob A Bank is Own One.

Not much difference between then and now as to what the owners are doing.

I'm looking for a news article that can confirm this, but not finding one... anyone?

And just today, Citibank reached a settlement with the SEC for $285 million for deceiving investors in a $1 billion derivatives deal.

http://www.nytimes.com/2011/10/20/bu...c-charges.html

http://rulingtheelite.com/ruling-the-elite-book
It's not just about the bankers, but it is a very interesting book for us Piss-Ants.

Well from what I can tell.. We just got fucked and they didn't even spit on it..

http://www.zerohedge.com/news/bank-a...ew-clients-dep

So yes, they were VERY scared..

Well.. look at the bright side... IF this is true, this is going to be bringing a lot more people to the streets...

But sadly hurt a lot more.

I love to trout fish below the Bull Shoals dam. Beaver lake is closer to me and they are making major improvements below the dam and putting in a fish hatchery.

My wife's cousin is a well known artist on Nantucket. She has decided to move to Eureka to retire. That says something about the area.